Can I retire at age 60 with 2,870,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,870,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$237,002$234,891$232,831$230,821$228,858$224,605
2 years$117,328$115,143$113,025$110,972$108,980$104,711
3 years$77,441$75,247$73,135$71,101$69,141$64,989
4 years$57,502$55,314$53,223$51,224$49,312$45,309
5 years$45,542$43,367$41,303$39,345$37,486$33,644
6 years$37,571$35,413$33,379$31,464$29,662$25,984
7 years$31,880$29,739$27,738$25,869$24,123$20,611
8 years$27,613$25,492$23,524$21,701$20,012$16,665
9 years$24,296$22,196$20,261$18,484$16,853$13,669
10 years$21,645$19,564$17,664$15,933$14,360$11,336
11 years$19,476$17,417$15,551$13,867$12,350$9,482
12 years$17,671$15,632$13,802$12,163$10,702$7,987
13 years$16,144$14,127$12,331$10,738$9,332$6,765
14 years$14,837$12,841$11,079$9,532$8,181$5,757
15 years$13,705$11,731$10,003$8,501$7,203$4,918
16 years$12,715$10,763$9,069$7,612$6,366$4,215
17 years$11,843$9,912$8,253$6,839$5,645$3,621
18 years$11,068$9,159$7,534$6,163$5,019$3,119
19 years$10,376$8,489$6,897$5,569$4,473$2,691
20 years$9,754$7,888$6,329$5,044$3,996$2,326
21 years$9,192$7,347$5,822$4,578$3,576$2,013
22 years$8,682$6,859$5,366$4,162$3,205$1,745
23 years$8,216$6,415$4,954$3,791$2,877$1,514
24 years$7,791$6,010$4,582$3,457$2,586$1,314
25 years$7,399$5,640$4,244$3,157$2,327$1,142
26 years$7,039$5,301$3,936$2,887$2,096$993
27 years$6,706$4,989$3,655$2,642$1,890$864
28 years$6,397$4,701$3,398$2,421$1,705$752
29 years$6,110$4,435$3,162$2,220$1,540$655
30 years$5,842$4,188$2,945$2,038$1,391$570
31 years$5,592$3,959$2,746$1,871$1,258$497
32 years$5,359$3,746$2,562$1,720$1,138$433
33 years$5,140$3,548$2,392$1,581$1,030$378
34 years$4,934$3,362$2,235$1,455$932$329
35 years$4,741$3,189$2,089$1,340$844$287
36 years$4,558$3,027$1,955$1,234$765$251
37 years$4,386$2,875$1,829$1,137$693$219
38 years$4,224$2,732$1,713$1,048$629$191
39 years$4,070$2,598$1,605$966$570$167
40 years$3,924$2,472$1,504$891$517$145
41 years$3,785$2,353$1,411$822$469$127
42 years$3,654$2,241$1,323$759$426$111
43 years$3,529$2,135$1,242$700$386$97
44 years$3,410$2,035$1,166$647$351$84
45 years$3,297$1,941$1,094$597$318$74
46 years$3,188$1,851$1,028$552$289$64
47 years$3,085$1,767$966$510$262$56
48 years$2,987$1,687$907$471$238$49
49 years$2,892$1,611$853$435$216$43
50 years$2,802$1,539$802$402$197$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,870,000, adding $6,493 every year, while hoping to spend $42,938 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 60/33/7 Blend
59$2,870,000$2,870,000$2,870,000$2,870,000
60$3,169,438$3,017,328$2,972,843$3,354,677
61$3,447,034$3,119,491$3,026,747$3,581,665
62$3,751,507$3,225,221$3,081,018$3,823,624
63$4,085,552$3,334,648$3,135,623$4,086,443
64$4,452,138$3,447,905$3,190,526$4,372,130
65$4,854,536$3,565,133$3,245,689$4,682,893
66$5,296,349$3,686,475$3,301,070$5,021,162
67$5,781,547$3,812,083$3,356,627$5,389,610
68$6,314,502$3,942,112$3,412,311$5,791,178
69$6,900,031$4,076,724$3,468,072$6,229,105
70$7,543,438$4,216,089$3,523,857$6,706,953
71$8,250,571$4,360,379$3,579,609$7,228,643
72$9,027,869$4,509,778$3,635,266$7,798,493
73$9,882,428$4,664,472$3,690,763$8,421,254
74$10,822,063$4,824,659$3,746,031$9,102,157
75$11,855,387$4,990,541$3,800,997$9,846,963
76$12,991,889$5,162,330$3,855,583$10,662,012
77$14,242,023$5,340,245$3,909,705$11,554,288
78$15,617,306$5,524,514$3,963,278$12,531,478
79$17,130,431$5,715,375$4,016,206$13,602,049
80$18,795,378$5,913,072$4,068,393$14,775,325
81$20,627,557$6,117,862$4,119,734$16,061,575
82$22,643,941$6,330,011$4,170,119$17,472,106
83$24,863,237$6,549,795$4,219,431$19,019,375
84$27,306,053$6,777,501$4,267,549$20,717,098
85$29,995,100$7,013,429$4,314,341$22,580,386
86$32,955,401$7,257,887$4,359,672$24,625,882
87$36,214,527$7,511,198$4,403,396$26,871,917
88$39,802,861$7,773,699$4,445,362$29,338,686
89$43,753,880$8,045,738$4,485,409$32,048,434
90$48,104,473$8,327,677$4,523,368$35,025,665
91$52,895,290$8,619,893$4,559,061$38,297,374
92$58,171,121$8,922,780$4,592,301$41,893,299
93$63,981,323$9,236,743$4,622,891$45,846,202
94$70,380,283$9,562,209$4,650,623$50,192,177
95$77,427,932$9,899,617$4,675,279$54,970,986
96$85,190,310$10,249,428$4,696,630$60,226,438
97$93,740,190$10,612,118$4,714,436$66,006,799
98$103,157,763$10,988,185$4,728,442$72,365,245
99$113,531,394$11,378,146$4,738,384$79,360,364
100$124,958,459$11,782,538$4,743,983$87,056,705